The World Economic Crisis due to the COVID-19 Pandemic has become a global issue that affects every segment of society. Since early 2020, the virus has disrupted previously stable economic systems, causing recessions in many countries. Sectors such as tourism and hospitality were the hardest hit, with tourist numbers dropping by up to 70%. One of the big impacts of this crisis is the increase in unemployment rates. According to data from the International Labor Organization (ILO), more than 400 million jobs were lost worldwide. Many companies have been forced to lay off employees, while small and medium enterprises (SMEs) are having difficulty surviving. In response, several governments launched stimulus policies to maintain the economy, but the impact varied. On the other hand, this crisis is accelerating digital transformation. Many companies are adapting to new business models, such as e-commerce and teleworking, to survive emergency situations. This opens up new opportunities for the technology sector, which is experiencing a surge in demand. Companies like Zoom and Shopify saw significant growth. Apart from that, the health sector is also experiencing major changes. Many countries have been forced to increase budget allocations for public health, highlighting the importance of a strong health infrastructure. Pandemic preparedness is a major concern, leading countries to begin developing long-term strategies for public health. From an international trade perspective, this crisis brings new challenges. Global supply chains were disrupted, resulting in shortages of goods and rising prices. Countries that depend on imports for basic needs experience difficulties, leading to high inflation. Many are starting to consider strengthening domestic food and energy security. Foreign direct investment is also affected. Investors tend to be more cautious, choosing to wait for political and economic stability. This could slow economic growth in developing countries that rely heavily on foreign investment to finance large projects. The psychological impact of this crisis must also be considered. A sense of economic uncertainty and anxiety is causing increased mental stress in many people. Psychological support is vital, because mental health plays an important role in productivity and social stability. In summary, the World Economic Crisis due to the COVID-19 Pandemic is a multifaceted phenomenon with consequences far greater than just GDP figures. Digital transformation, changes in health policy, international trade challenges, and psychological implications are converging in this crisis, shaping a new map for the global economy. The world community is faced with the difficult task of rebuilding a more resilient and inclusive economy after the pandemic.
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